[Breaking] Employment Rises by 184,000 in August; Youth Employment Falls by 143,000

[Financial News] The number of employed people rose by 184,000 last month from a year earlier, marking a third consecutive month of growth. However, youth employment continued to struggle, declining for the 46th consecutive month.
According to the August Employment Trends released by the Ministry of Data and Statistics on the 9th, the number of employed people stood at 29,151,000 last month, up 184,000 from a year earlier. Employment fell by 40,000 in May, then rose by 63,000 in June and 108,000 in July before increasing by 184,000 last month, marking three consecutive months of growth.
By industry, employment increased in human health and social work activities, by 186,000; arts, sports and recreation-related services, by 73,000; and business facilities management and business support services, by 45,000. In contrast, employment declined in agriculture, forestry and fishing, by 109,000; accommodation and food services, by 61,000; and manufacturing, by 38,000.
By age group, weakness in youth employment deepened. The number of employed people aged 15 to 29 fell by 143,000 last month, marking the 46th consecutive month of decline. In particular, the youth employment rate stood at 44.1%, extending its decline for the 28th consecutive month, while the unemployment rate reached 5.4%, its highest level in four years.
Last month, the employment rate for people aged 15 to 64, based on the OECD comparison standard, stood at 70.4%, up 0.5 percentage points from a year earlier. The unemployment rate was 2.0%, unchanged from the same month a year earlier.
[email protected] Chan-mi Kim Reporter